Crypto Schemes | FinTelegram News

Category: Crypto Schemes

November 28, 2023

Binance Founder Changpeng Zhao Not Allowed Return To United Arab Emirates, US Court Rules!

In a recent development that has sent ripples through the cryptocurrency world, Binance founder Changpeng Zhao, commonly known as CZ, is currently confined to the United States following a guilty plea to criminal charges related to his cryptocurrency exchange. This decision was cemented by a ruling from a federal judge in Seattle, who stipulated that Zhao must remain in the U.S. pending the court's decision on the Government's review motion.

November 24, 2023

Worth Reading: Reuters Special Report On Binance, Crypto And Pig Butchering!

Following the seizure of $9 million in cryptocurrencies related to an Asian pig butchering scheme, Reuters published a special report that highlights the alarming growth of 'pig butchering' scams, fraudulent investment schemes primarily operated from Asia and now recognized as a global billion-dollar industry. These scams use cryptocurrencies to process their illegal payments. Binance in particular is said to have been involved as a payment processor in recent years.

November 22, 2023

Binance Founder Released On Bail, Steps Down As CEO, And Names Successor After Guilty Plea!

In the wake of his recent guilty plea, Changpeng Zhao (CZ), the now-former CEO of Binance, has announced Richard Teng as his successor. Teng, a seasoned professional with a wealth of experience in financial regulation, is set to steer the cryptocurrency exchange into a new era. Zhao acknowledged the emotional difficulty of relinquishing control but emphasized the need for responsibility.

November 21, 2023

U.S. Law Enforcement Seized Nearly $9M In Crypto Connected To Romance Scam Scheme!

The U.S. Department of Justice (DOJ) has announced the seizure of nearly $9 million in stablecoin Tether. These seized funds were traced to cryptocurrency addresses allegedly associated with an organization that exploited over 70 victims through romance scams and cryptocurrency confidence scams, which are widely known as “pig butchering.” The DOJ also acknowledged Tether's cooperation.

November 17, 2023

Fallen Crypto Heroes: Appeal Of Convicted Terra/Luna Founder Do Kwon In Montenegro Denied!

He is one of the fallen crypto heroes: Do Kwon, co-founder and CEO of Terraform Labs, was arrested in Montenegro in March 2023 amidst charges of orchestrating a multi-billion dollar crypto asset securities fraud. By June, he received a four-month jail sentence from a Basic Court in Podgorica for forging official documents. His appeal was denied by the Montenegro High Court, affirming the "adequate" punishment for his crime.

November 15, 2023

Cyprus Confidential: Cyprus Is Also A Problem For The CyberFinance Space, Including Crypto!

On November 14, 2023, the data-based report Cyprus Confidential was published in which, based on various leaks, it was shown how Cyprus and its advisors help Russians to hide money. But Cyprus' problem is much bigger than that. Over the past few years, the island state has established itself as the center of the global CyberFinance scene through which scammers, crypto companies and illegal gambling providers launder their money.

November 14, 2023

Interesting: FTX Estate Sues Bybit to Return $953M In Allegedly ‘Misappropriated Funds’

In a recent development in the cryptocurrency sector, the estate of the now-bankrupt U.S. crypto firm FTX has initiated legal action against Bybit, a competing exchange platform. The lawsuit, filed in Delaware, seeks the recovery of approximately $953 million. This sum represents assets and cash that FTX alleges were improperly withdrawn by Bybit’s investment arm, Mirana Corporation, prior to FTX’s bankruptcy declaration.

November 13, 2023

Dutch Crypto Exchange Bitvavo Received Approval Of Austrian FMA!

Dutch cryptocurrency exchange Bitvavo has received authorization from Austria's Financial Market Authority (FMA) to operate as a Virtual-Asset-Service-Provider. This allows Bitvavo to offer crypto products and services in Austria, expanding its operations beyond the Benelux countries. Registered with the Dutch Central Bank (DNB), the crypto exchange, established in 2018, boasts around 1.5 million customers.

November 10, 2023

Former Head Of OneCoin Compliance Pleaded Guilty To Fraud And Money Laundering Charges!

Damian Williams, the United States Attorney for the Southern District of New York, recently announced a significant development in the notorious OneCoin case. Irina Dilkinska, 42, formerly known as the 'Head of Legal and Compliance' for OneCoin, has pleaded guilty to charges of wire fraud and money laundering in connection with her role in the colossal OneCoin fraud scheme. The sentencing is scheduled for February 2024.

November 6, 2023

Sam Bankman-Fried’s Legal Troubles Deepen After Conviction – The FTX Case Continues Unfolding

In the Aftermath of a high-profile conviction, the FTX drama persists. The crypto universe watched in disbelief as one of its most iconic figures, Sam Bankman-Fried (SBF), faced the full force of the law with a potential century-long prison sentence hanging over his head. The co-founder and one-time CEO of the now-defunct crypto FTX exchange was convicted on an array of charges, including fraud and money laundering, with a sentencing date set for March 28, 2024.

November 3, 2023

As Expected: FTX Founder Sam Bankman-Fried Found Guilty!

In the New York District Court, after a trial lasting one month, Sam Bankman-Fried (SBF), 31, founder and former CEO of the globally prominent crypto exchange FTX, was convicted on charges of fraud and money laundering. The determination of the jury was reached swiftly, following a mere four and a half hours of deliberation.With the conviction, the crypto industry can also lock up a capital and hope for a fresh start.

November 1, 2023

Crypto Trial: Final Cross-Examination Concludes The Trial Against FTX Founder Sam Bankman-Fried!

In the ongoing criminal fraud trial of FTX founder Sam Bankman-Fried (SBF), he faced a rigorous cross-examination by federal prosecutor Danielle Sassoon during a second consecutive day of testimony. The cross-examination on Tuesday centered on SBF's actions and statements leading up to the collapse of FTX in November. Repeatedly, he denied any knowledge of the misappropriation of billions of dollars in customer funds until shortly before the company's downfall last year.